Lowest Since 2008, South Korea's Top Five Automakers' 2024 Domestic Sales at 1.36 Million Units, Down 6.4% YoY
According to the sales performance released by South Korea's top five automakers (Hyundai, Kia, GM Korea, Renault Samsung, KGM) today, the total global sales of Korean-produced cars decreased by 0.6% year-on-year, reaching 7.9472 million units.
Specifically, last year's domestic sales for the top five automakers in South Korea were 1.3588 million units, with overseas sales at 6.5883 million units. Among them, domestic sales fell by 6.4% year-on-year, setting a record low since 2008.
Regarding domestic sales, Hyundai Motor (-7.5%), Kia (-4.2%), GM Korea (-35.9%), KGM (-25.7%) showed sluggish performance, with only Renault Samsung experiencing growth in sales (80.6%).
Hyundai Motor and Kia announced their 2025 sales targets today, striving to sell 7.39 million units globally (Hyundai Motor 4.174 million units, Kia 3.2162 million units), a year-on-year increase of 2.2%.
As a reference, Hyundai Motor and Kia sold a total of 7.2312 million units in the global market last year, a decrease of 1% year-on-year. Hyundai Motor's sales volume was 4.1418 million units, and Kia's was 3.0895 million units.
